Mirae Asset Midcap Fund Direct Growth
Equity
Direct
Mid-Cap
NAV as on 19-11-2024
₹ 36.28
▲1%
1D
Inception Returns
27.5%
/yr
About Mirae Asset Midcap Fund Direct Growth
Mirae Asset Midcap Fund Direct Growth is an equity fund. This fund was started on 29 July, 2019. The fund is managed by Ankit Jain. The fund could potentially beat inflation in the long-run.
Key Parameters
- Mirae Asset Midcap Fund Direct Growth has ₹16577 Cr worth of assets under management (AUM) as on Oct 2024 and is more than category average.
- The fund has an expense ratio 0.6.
Returns
Mirae Asset Midcap Fund Direct Growth has given a CAGR return of 27.46% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 28.14%, 17.93% and 26.67% respectively.
Holdings
Mirae Asset Midcap Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Consumer Cyclical, Financial Services, Industrial, Health, Basic Materials, Tech, Communication, Utilities, Real Estate, Energy, Consumer Defensive. Its top holdings are Indian Bank, The Federal Bank Ltd, Delhivery Ltd, Mphasis Ltd, Oracle Financial Services Software Ltd
Taxation
As it is a mid-cap mutual fund the taxation is as follows:For short term (less than a year) capital gains will be taxed at 15%For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefitDividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.
Investment objective of Mirae Asset Midcap Fund Direct Growth
The investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantly in Indian equity and equity related securities of midcap companies. From time to time, the fund manager may also participate in other Indian equities and equity related securities for optimal portfolio construction. There is no assurance that the investment objective of the Scheme will be realized.
Minimum Investment and lockin period
Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 99.00. Mirae Asset Midcap Fund Direct Growth has no lock in period.
Historical NAV & Returns
Annualised
▲
▼
10070 people have invested ₹ 7.9Cr in Mirae Asset Midcap Fund Direct Growth in the last three months
INDmoney Rank for Mirae Asset Midcap Fund Direct Growth
Powered by IND quant engine
14
/19
42% Performance
32% Risk Management
84% Cost
14 out of 19 among mid-cap
Beats FD returns for both 3Y & 5Y
No bad points found for this fund.
Mirae Asset Midcap Fund Direct Growth Overview
| Expense ratio | 0.6% |
Benchmark | S&P BSE Midcap TR INR |
| AUM | ₹16577 Cr |
| Inception Date | 29 July, 2019 |
| Min Lumpsum/SIP | ₹5000/₹99 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 33.32% |
| STCG | Redeeming before 1 year, returns taxed at 20%. |
| LTCG | After 1 year, 12.5% tax on returns over ₹1.25 lakh/year. |
| Risk |   Very High Risk |
Trailing Returns
as on (19-Nov-24)
Fund Distribution
as on (31-Oct-24)
Mid cap
70.8%
Small cap
20.5%
Large cap
6.9%
Sector Allocation
Consumer Cyclical
18.7%
Financial Services
18.1%
Industrial
13.8%
Health
13.6%
Basic Materials
12.2%
Tech
8.8%
Communication
4.3%
Utilities
3.8%
Real Estate
2.9%
Energy
2.3%
Consumer Defensive
1.5%
All changes are between Aug'24 and Oct'24
- This fund’s returns stands at -6.68% whereas the fund’s underlying benchmark Nifty Midcap 150 returns stands at -6.72% as on Oct'24
- This fund outperformed Nifty Midcap 150 by 0.03% in Oct'24
- AUM of the fund stands at 16.6K Cr as of Oct'24
- AUM decreased by 1.2K Cr between Oct'24 and Sep'24
Top Stocks bought last month
Coforge Ltd's allocation increased from 0.66% to 1.99%
Glenmark Pharmaceuticals Ltd's allocation increased from 1.46% to 2.01%
Indian Bank's allocation increased from 2.51% to 3.04%
Top Stocks sold last month
Delhivery Ltd's allocation decreased from 2.8 % to 2.51 %
Cummins India Ltd's allocation decreased from 2.4 % to 2.37 %
Tata Communications Ltd's allocation decreased from 2.42 % to 2.16 %
Large Cap allocation has gone down from 8.4% to 6.9%
Small Cap allocation has gone down from 22.5% to 20.5%
Mid Cap allocation has gone up from 67.6% to 70.8%
Cash allocation has gone up from 0.7% to 1.1%
Top 3 Sectors in October were Consumer Cyclical, Financial Services & Industrial
Oct'24
Consumer Cyclical
19%
Financial Services
18%
Industrial
14%
Sep'24
Consumer Cyclical
20%
Financial Services
19%
Industrial
15%
See all
Top Growth Drivers | 1M Return |
|---|---|
 Coforge Ltd | 18.9% |
 Federal Bank Ltd | 6.9% |
 Indian Bank | 2.1% |
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Ankit Jain
Fund Manager of Mirae Asset Midcap Fund Direct Growth, since 29 July 2019
Top funds managed
Fund House
Mirae Asset Investment Managers (India) Private Limited
Total Schemes
Total AUM
₹1.89L Cr
as on 31-Oct-2024
Address
Mirae Asset Investment Managers (India) Private Limited.,Unit No. 606, 6th Floor,,Windsor Bldg, Off CST Road,,Kalina, Santacruz (East), Mumbai - 400 098
Phone
91-22-22-6780300
Website
customercare@miraeasset.com
Mutual Fund Insights
In the last 3 years, Motilal Oswal Midcap Direct Growth has given 33.45% return, outperforming this fund by 15.52% per annum.
Over the last 1 month, this fund has experienced a 6.8% drop in AUM moving from 17.78K Cr to 16.57K Cr.
Over the last 1 month, this fund has increased expense ratio by 5.3% moving from 0.57 to 0.60.
In the last 1 year, Motilal Oswal Midcap Direct Growth has given 59.09% return, outperforming this fund by 30.94%.
In the last 5 years, Quant Mid Cap Fund Growth Option Direct Plan has given 33.16% return, outperforming this fund by 6.49% per annum.
This fund expense ratio is slightly on the lower side within the category (mid-cap). Its expense ratio is 0.6% which is lower than the category average expense ratio of 1.14%.
Mirae Asset Midcap Fund Direct Growth Highlights
Very High Risk
Investors understand that their principal will be at Very High Risk
About the fund
This fund has delivered an average annual returns of 27.46% since inception which is more than its category average return of 18.83%
Fund Allocations
This fund has an allocation of 98.85% in Equity, 0% in Debt and 1.15% in Cash related instruments
AUM size ₹16577 Cr
This fund has AUM of ₹16577 Cr which is more than its category average of ₹ 9389 Cr
Expense Ratio 0.6%
This fund has an expense ratio of 0.6% which is less than its category average expense ratio of 1.36%
Frequently Asked Questions for Mirae Asset Midcap Fund Direct Growth
The current NAV of Mirae Asset Midcap Fund Direct Growth is ₹36.28 as on 19-Nov-2024.
Existing (Absolute + CAGR) as on 19-Nov-2024.
Mirae Asset Midcap Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -7.3% | -7.3% |
6 Month Returns | 4.09% | 4.09% |
1 Year Returns | 28.14% | 28.14% |
3 Years Returns | 64.02% | 17.93% |
5 Years Returns | 226.14% | 26.67% |
With INDmoney, the process of investing is very simple and involves zero commission.
- Click Buy on the fund name.
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- Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
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0.6% as on October 2024
₹16577 Cr as on October 2024
Indian Bank(3.04%), The Federal Bank Ltd(2.62%), Delhivery Ltd(2.51%), Mphasis Ltd(2.46%), Oracle Financial Services Software Ltd(2.38%) as on October 2024
Consumer Cyclical(18.53%), Financial Services(17.87%), Industrial(13.62%) as on October 2024
The alpha ratio for the Mirae Asset Midcap Fund Direct Growth for various period is as follows:
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
Mirae Asset Midcap Fund Direct Growth | -2.14 | -1.42 | 1.24 |
As on October 2024
The alpha for Mirae Asset Midcap Fund Direct Growth is calculated against S&P BSE Midcap TR INR. Higher alpha indicates that this fund has generated extra returns compared to the benchmark index. An alpha of 1.0 means the fund has outperformed its benchmark index by 1%.
The Beta ratio for the Mirae Asset Midcap Fund Direct Growth for various period is as follows:
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
Mirae Asset Midcap Fund Direct Growth | 0.96 | 0.93 | 0.9 |
As on October 2024
The Beta for Mirae Asset Midcap Fund Direct Growth is calculated with S&P BSE Midcap TR INR. Beta tells the volatility of the mutual fund relative to its benchmark. If the beta of a mutual fund is more than 1, then the mutual fund is more volatile than its benchmark. If beta is less than 1, then the mutual fund is less volatile than the benchmark.
The sharpe ratio for the Mirae Asset Midcap Fund Direct Growth for various period is as follows:
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
Mirae Asset Midcap Fund Direct Growth | 1.83 | 0.92 | 1.07 |
As on October 2024
The sharpe ratio for Mirae Asset Midcap Fund Direct Growth is calculated with S&P BSE Midcap TR INR. Sharpe ratio tells risk-adjusted-returns of the mutual fund. The higher a fund's Sharpe ratio, the better a fund's returns have been relative to the risk it has taken on.
The standard deviation for the Mirae Asset Midcap Fund Direct Growth for various period is as follows:
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
Mirae Asset Midcap Fund Direct Growth | 15.35 | 14.95 | 20.18 |
As on October 2024
Standard deviation tells the volatility of the returns of the mutual fund. The higher a fund's Standard deviation, the higher the volatility of the fund's returns.
Sortino ratio is 1.7 as on October 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Ankit Jain is the fund manager of Mirae Asset Midcap Fund Direct Growth
The Exit load of Mirae Asset Midcap Fund Direct Growth is 1%